CWA Asset Management Group LLC Makes New Investment in ArcelorMittal (NYSE:MT)

CWA Asset Management Group LLC purchased a new position in shares of ArcelorMittal (NYSE:MT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,928 shares of the basic materials company's stock, valued at approximately $863,000.

A number of other hedge funds have also made changes to their positions in MT. Bank of New York Mellon Corp lifted its holdings in ArcelorMittal by 221.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ArcelorMittal by 24.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock worth $1,563,000 after buying an additional 13,141 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ArcelorMittal by 4.8% during the 4th quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock worth $6,496,000 after buying an additional 12,929 shares during the period. Callan Family Office LLC bought a new stake in shares of ArcelorMittal during the 4th quarter worth $207,000. Finally, Vise Technologies Inc. acquired a new position in ArcelorMittal in the 4th quarter valued at $217,000. Institutional investors and hedge funds own 9.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MT shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Jefferies Financial Group downgraded ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.95.

ArcelorMittal Stock Performance

NYSE:MT opened at $30.69 on Friday. The firm's 50-day moving average is $29.88 and its 200-day moving average is $27.69. The company has a market cap of $25.14 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 0.15 and a beta of 1.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 1.35. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.33. The business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Equities research analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a dividend of $0.2338 per share. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, May 16th. ArcelorMittal's dividend payout ratio is presently 30.72%.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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